A rectangular lot with 1 Study guides, Class notes & Summaries

parcel portion of land delineated by boundaries • Real property ownership of real estate and the bundle of rights associated with owning the real estate. • Personal property ownership of anything that is not real estate, and the rights associated with owning the personal property item • Tangible property physical, visible, and material Intangible property abstract, having no physical existence in itself, other than as evidence of one's ownership interest. ...

Basic Appraisal Procedures Mckissock-Set Questions With Verified Correct Answers Valuation Process - ANSWER Systematic set of procedures an appraiser follows to provide answers to a clients questions about real property value Appraisal Process - ANSWER 1. Define Problem 2. Determine scope of work 3. Gather Record & verify dat 4. determine highest and best use 5. estimate land value 6. est. value by all three approaches 7. Reconcile est. value into final opinion value 8. report t...

Property Ownership - ANSWER An item that has a legal owner, along with the attendant rights to legal ownership. Real Property - ANSWER Ownership of real estate and the bundle of rights associated with owning real estate. Personal Property - ANSWER Ownership of anything which is not real estate, and the rights associated with owning the personal property item. Chattel or Personalty - ANSWER Also known as Personal Property. Real Estate - ANSWER Air, water, land, and everything affixed...

OSSF DR TEST PRACTICE QUESTIONS WITH 100% CORRECT ANSWERS _______ and ________ soil textural classes are always unsuitable for standard absorptive OSSF - Correct Answer ️️ -class IA and IV List each of the major soil horizons - Correct Answer ️️ -surface soil A, surface soil B, and parent material _____________ is a term describing the ability of water to migrate through a soil profile under either _________ or __________ conditions. - Correct Answer ️️ -Hydraulic conductivit...

McKissock Learning - Basic Appraisal Principles Exam Questions And Answers 100% Solved repayment of a debt" is the definition of: A) CC&R B) bond C) mortgage note D) debt - answermortgage note "The earth's surface, both land and water, and anything that is attached to it whether by the course of nature or human hands" is the definition of: A) land B) site C) water D) real property - answerA The public restriction on property rights that allows the government to place a lien on a pro...

What is the money in the Recovery Trust Account used for? A) To pay an aggrieved party who has won a judgment against a licensee for damages from a real estate transaction B) To pay commission that agents were wrongfully deprived of C) For taxes for the state of Texas D) For TREC to recover the funds to keep their computer systems up to date - A) To pay an aggrieved party who has won a judgment against a licensee for damages from a real estate transaction Wesley just bought a house with...

grant deed - Answer-deed containing, or having implied by law, some but not all of the usual covenants of title Appraiser - Answer-One who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective. report - Answer-any communication, written or oral, of an appraisal or appraisal review that is transmitted to the client or a party authorized by the client upon completion of an assignment. narrative report - Answer-A written communicat...

McKissock Learning - Basic Appraisal Principles Exam Questions And Answers 100% Solved repayment of a debt" is the definition of: A) CC&R B) bond C) mortgage note D) debt - answermortgage note "The earth's surface, both land and water, and anything that is attached to it whether by the course of nature or human hands" is the definition of: A) land B) site C) water D) real property - answerA The public restriction on property rights that allows the government to place a lien on a pro...

Real Property - Answer- consists of land, improvements, attached to the land, benefits, rights, and ownership interests that go with the land. Appurtenance - Answer- is often used to describe rights, privileges, and improvements that belong to and pass with the land Improvements - Answer- man's additions to the land such as buildings and landscaping Personal property - Answer- is a right or interest in something of a temporary or movable nature and includes anything not classed as real pr...

Mckissock Basic Appraisal Principles Exam Questions and Answers Latest Update 2024/2025 Graded A+. grant deed - ANSWER deed containing, or having implied by law, some but not all of the usual covenants of title Appraiser - ANSWER One who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective. report - ANSWER any communication, written or oral, of an appraisal or appraisal review that is transmitted to the client or a party authori...